4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09746953 2022-09-01 2023-08-31 09746953 2023-08-31 09746953 2022-08-31 09746953 2021-09-01 2022-08-31 09746953 2022-08-31 09746953 2021-08-31 09746953 core:FurnitureFittings 2022-09-01 2023-08-31 09746953 bus:Director1 2022-09-01 2023-08-31 09746953 core:FurnitureFittings 2022-08-31 09746953 core:FurnitureFittings 2023-08-31 09746953 core:WithinOneYear 2023-08-31 09746953 core:WithinOneYear 2022-08-31 09746953 core:ShareCapital 2023-08-31 09746953 core:ShareCapital 2022-08-31 09746953 core:RetainedEarningsAccumulatedLosses 2023-08-31 09746953 core:RetainedEarningsAccumulatedLosses 2022-08-31 09746953 core:FurnitureFittings 2022-08-31 09746953 bus:SmallEntities 2022-09-01 2023-08-31 09746953 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 09746953 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 09746953 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09746953 bus:FullAccounts 2022-09-01 2023-08-31 09746953 core:OfficeEquipment 2022-09-01 2023-08-31 09746953 core:OfficeEquipment 2022-08-31 09746953 core:OfficeEquipment 2023-08-31
COMPANY REGISTRATION NUMBER: 09746953
South East Packaging Limited
Filleted Unaudited Financial Statements
31 August 2023
South East Packaging Limited
Financial Statements
Year ended 31 August 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
South East Packaging Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,302
771
Current assets
Debtors
6
131,126
143,014
Cash at bank and in hand
44,617
31,312
---------
---------
175,743
174,326
Creditors: amounts falling due within one year
7
151,849
135,954
---------
---------
Net current assets
23,894
38,372
--------
--------
Total assets less current liabilities
25,196
39,143
--------
--------
Net assets
25,196
39,143
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
25,195
39,142
--------
--------
Shareholders funds
25,196
39,143
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 February 2024 , and are signed on behalf of the board by:
Mr R W Cole
Director
Company registration number: 09746953
South East Packaging Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Hackington Place, Canterbury, Kent, CT2 7JR, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
33% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 September 2022
1,566
11,012
12,578
Additions
66
3,474
3,540
-------
--------
--------
At 31 August 2023
1,632
14,486
16,118
-------
--------
--------
Depreciation
At 1 September 2022
1,330
10,477
11,807
Charge for the year
140
2,869
3,009
-------
--------
--------
At 31 August 2023
1,470
13,346
14,816
-------
--------
--------
Carrying amount
At 31 August 2023
162
1,140
1,302
-------
--------
--------
At 31 August 2022
236
535
771
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
131,126
143,014
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
705
1,434
Trade creditors
111,788
92,793
Corporation tax
12,542
15,909
Social security and other taxes
4,447
3,283
Other creditors
22,367
22,535
---------
---------
151,849
135,954
---------
---------
8. Related party transactions
At the balance sheet date, the company owed the director £10,190 (2022: £5,120).